Egypt's legislative committee approves investment draft law

The Legislative Reform Committee approved Tuesday latest draft of new investment law to be reviewed by the cabinet on Wednesday.
The draft law combines two drafts presented by the sub-committee and the investment ministry.
According to Investment Minister Ashraf Salman, the draft presents no tax incentives to avoid imbalance in the economic system.
Prime Minister Ibrahim Mahlab who chairs the committee said on Tuesday that the cabinet is expected to approve the draft law in its meeting Wednesday.
The premier extended thanks to the committee over efforts exerted to draft the new law.